Main Field of Study and progress level:
Economics: First cycle, has less than 60 credits in first-cycle course/s as entry requirements
Grading scale: Pass with distinction, Pass, Fail
Responsible department: Department of Economics
Revised by: Rector of Umeå School of Business and Economics, 2017-02-23
Contents
Module 1 (Fall): Environmental and Natural Resource Economics, 7.5ECTS The aim of the module is to offer an insight in environmental and natural resource economics and a deeper analysis of environmental policy instruments. The concept of natural resources is applied on renewable resources, such as forests, but also on non-renewable resources such as oil and minerals. The resource allocation is analyzed within the framework of perfect competition but also in situations where the markets are characterized by imperfect competition and negative externalities. The theoretical models are applied on different kind of environmental issues. Central questions are: How much shall we spend on improving the environment? How efficient are different policy instruments?
The module also introduces various econometric methods, as binary models, to determine the value of non-market priced resources, e.g. rare species. Other models to determine the effect of different environmental policies are also introduced.
Module 1 (Spring): Public Economics, 7.5ECTS The module is only avaliable in Swedish.
Module 2 (Fall): Monetary and Financial Economics, 7.5ECTS The course analyses the role of money in the economy and provides an introduction to financial economics. The first part of the course describes and analyses the role of the central bank and the importance of banks for the transmission mechanism. The next part of the course deals with interest bearing instruments. Different debt instruments are defined and explained as well as the basic concepts of how to value financial assets. Particular emphasis will be put on bonds. The final part of the course introduces modern portfolio theory, including Markowitz model and CAPM. The econometric part of the course focus on time series analysis of financial data.
Module 2 (Spring): Labour Economics, 7.5ECTS The module is only avaliable in Swedish.
Expected learning outcomes
Module 1 (Fall): Environmental and Natural Resource Economics, 7.5ECTS Upon completing this module, students should be able to: - Apply basic theories within the field of environmental- and resource economics - Describe and exemplify how environmental policy instruments, as Pigouvian taxes or quantity regulations, work and discuss pros- and cons with different policy instrument. - Explain the problems with non-market priced resourses and be able to analyze theoretical as well as empirical models - Apply basic empirical models on relavant data with the area of environmental policy.
Module 3 (Spring): Public Economics, 7.5ECTS The module is only avaliable in Swedish.
Module 4 (Fall): Monetary and Financial Economics, 7.5ECTS Upon completing this module, students should be able to: - Describe and analyse how central banks conduct monetary policy as well as the role of the private banking system in the transmission mechanism; - Describe how financial markets work and how to use financial data to price financial assets; - Calculate and interpret key concepts related to bonds such as duration, convexity and different types of yield measures. - Apply time series analysis on financial data
Module 4 (Spring): Labour Economics, 7.5ECTS The module is only avaliable in Swedish.
Required Knowledge
Economics B100:1, 15 ECTS or equivalent.
Form of instruction
The education is given in form of lectures, group sessions, video lectures and seminars.
Examination modes
The examination consists of written examinations at the end of each module, assignments and seminars.
The results from assignments and seminars are only valid during the current semester. Students not having a Pass on assignments or seminars will be given an additional corresponding examination opportunity, within the scope of the given module.
A second exam opportunity is always offered within a short time span after the regular exam date for those students not achieving a Pass, except Module 2 during spring semesters. The subsequent exam opportunity is either the re-take opportunity the week before the fall semester or the next regular exam date.
The following grading system will be used: Pass with Distinction (Väl Godkänd), Pass (Godkänd) or Fail (Underkänd). Grades on the course are awarded when the student has passed all examinations and compulsory course elements on all four modules. The grade Pass with Distinction on the course requires the grade Pass with Distinction on at least three out of four modules.
It is normally not possible to make additional examinations to reach a higher grade. Exceptions can be made for a student with the grade Fail on any of the examinations if the examiner (not the lecturer) finds this appropriate. The task must be a minor undertaking, closely related to the learning outcome not reached, and performed in close proximity to the original examination.
When a student has failed an examination on two occasions, he or she has a right to have another grading teacher. A written request for an alternative examiner should be handed to the Dean of the Business School no later than two weeks before the next examination opportunity.
Credit transfer Academic credit transfers are according to the University credit transfer regulations.
Literature
The literature list is not available through the web.
Please contact the faculty.
